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T. Rowe (TROW) April AUM Down 8.5% on Unfavorable Markets
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T. Rowe Price Group, Inc. (TROW - Free Report) reported preliminary assets under management (“AUM”) of $1.42 trillion as of Apr 30, 2022. This reflects an 8.5% decrease from the prior month’s $1.55 trillion.
Client transfers from mutual funds to other portfolios, including trusts and separate accounts, aggregated $1.7 billion in April 2022.
T. Rowe Price’s total sponsored U.S. mutual fund balance was $718 billion, down 9.1% from March 2022. Of the total U.S. mutual funds balance, almost 61% comprised investments in equity, while the remaining came from multi-asset and fixed income, including money markets portfolio.
T. Rowe Price’s total subadvised and separate accounts, as well as other investment products, were worth $702 billion, marking a 7.9% decline from the prior month. Equity, accounting for $345 billion or 49% of total other investment portfolios, was down 11.3% sequentially, probably due to unfavorable markets. Further, multi-asset products of $224 billion or 32% of total other investment portfolios, were down 6.7% from the prior month. While fixed income products, including money-market, constituted $91 billion or 13% of total other investment portfolios, alternative products aggregated $42 billion or almost 6% of total other investment portfolios. Both products remained flat sequentially.
Additionally, T. Rowe Price registered $351 billion in target-date retirement portfolios, down 6.4% from the previous month.
TROW remains focused on fortifying its business through planned initiatives like launching investment strategies, enhancing client engagement and investing in advisory services. However, rising operating costs are expected to hinder bottom-line growth. Also, overdependence on investment advisory fees and U.S. equity assets is concerning.
Over the past six months, shares of T. Rowe Price have lost 46.8%, wider than the industry’s decline of 32.1%.
Franklin Resources, Inc. (BEN - Free Report) announced its preliminary AUM for April 2022. BEN's month-end AUM of $1,455.8 billion marked a 1.5% decline from the previous month’s tally.
Franklin's AUM was affected by the negative impacts of the markets and long-term net outflows. This was partly offset by the acquisition of Lexington Partners.
Cohen & Steers (CNS - Free Report) reported a preliminary AUM of $98 billion as of Apr 30, 2022, which suggests a decline of 4% from the prior month’s level. Market depreciation of $3.9 billion and distributions of $188 million were partially offset by net inflows of $3 million.
CNS recorded total institutional accounts of $38.9 billion at the end of April, down 5.1% from the March-end level. Of the total institutional accounts, advisory accounts were $22.5 billion, while the rest were sub-advisory.
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T. Rowe (TROW) April AUM Down 8.5% on Unfavorable Markets
T. Rowe Price Group, Inc. (TROW - Free Report) reported preliminary assets under management (“AUM”) of $1.42 trillion as of Apr 30, 2022. This reflects an 8.5% decrease from the prior month’s $1.55 trillion.
Client transfers from mutual funds to other portfolios, including trusts and separate accounts, aggregated $1.7 billion in April 2022.
T. Rowe Price’s total sponsored U.S. mutual fund balance was $718 billion, down 9.1% from March 2022. Of the total U.S. mutual funds balance, almost 61% comprised investments in equity, while the remaining came from multi-asset and fixed income, including money markets portfolio.
T. Rowe Price’s total subadvised and separate accounts, as well as other investment products, were worth $702 billion, marking a 7.9% decline from the prior month. Equity, accounting for $345 billion or 49% of total other investment portfolios, was down 11.3% sequentially, probably due to unfavorable markets. Further, multi-asset products of $224 billion or 32% of total other investment portfolios, were down 6.7% from the prior month. While fixed income products, including money-market, constituted $91 billion or 13% of total other investment portfolios, alternative products aggregated $42 billion or almost 6% of total other investment portfolios. Both products remained flat sequentially.
Additionally, T. Rowe Price registered $351 billion in target-date retirement portfolios, down 6.4% from the previous month.
TROW remains focused on fortifying its business through planned initiatives like launching investment strategies, enhancing client engagement and investing in advisory services. However, rising operating costs are expected to hinder bottom-line growth. Also, overdependence on investment advisory fees and U.S. equity assets is concerning.
Over the past six months, shares of T. Rowe Price have lost 46.8%, wider than the industry’s decline of 32.1%.
Image Source: Zacks Investment Research
Currently, T. Rowe Price carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Performance of Other Asset Managers
Franklin Resources, Inc. (BEN - Free Report) announced its preliminary AUM for April 2022. BEN's month-end AUM of $1,455.8 billion marked a 1.5% decline from the previous month’s tally.
Franklin's AUM was affected by the negative impacts of the markets and long-term net outflows. This was partly offset by the acquisition of Lexington Partners.
Cohen & Steers (CNS - Free Report) reported a preliminary AUM of $98 billion as of Apr 30, 2022, which suggests a decline of 4% from the prior month’s level. Market depreciation of $3.9 billion and distributions of $188 million were partially offset by net inflows of $3 million.
CNS recorded total institutional accounts of $38.9 billion at the end of April, down 5.1% from the March-end level. Of the total institutional accounts, advisory accounts were $22.5 billion, while the rest were sub-advisory.